Industry officials are reportedly speculating the number of crypto users could hit 20 million by the end of the year, with one unnamed official being cited by Yonhap saying: “Some believe the crypto market has reached a saturation point, but there is still an endless possibility for growth compared with the matured stock market.” Following Trump’s election win last November, the number of crypto users spiked by over 600,000 to 15.6 million, collectively holding 102.6 trillion South Korean won ($70.3 billion) in crypto assets.
Crypto exchange users in South Korea have crossed over 16 million after receiving a boost following US President Donald Trump’s election win last November. Data submitted to representative Cha Gyu-geun of the minor opposition Rebuilding Korea Party found over 16 million people had crypto exchange accounts out of a total population of 51.7 million, according to a March 30 report from local news agency Yonhap. This would be equivalent to over 30% of the population. All the data was taken from the top five domestic virtual exchanges in South Korea: Upbit, Bithumb, Coinone, Korbit and Gopax.
Meanwhile, Korea’s Securities Depository shows only 14.1 million listed individual investors in the stock market as of December last year, according to the South Korean financial publication the Maeil Business Newspaper.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Stephen Katte
The story "South Korean crypto exchange users hit 16M in ‘saturation point’" has 381 words across 15 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "South Korean crypto exchange users hit 16M in ‘saturation point’" was covered 1 days ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 58 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
